Housing costs in Banks?
A typical home costs
$132,600, which is 60.8% less expensive than the national average of
$338,100 and 38.0% less expensive than the average Alabama home, at
$214,000. Renting a two-bedroom unit in Banks costs
$900 per month, which is 4.3% cheaper than the national average of
$940 and close to the state average of
$890.
Can I afford Banks?
To live comfortably in Banks (zip 36005), Alabama, a minimum annual income of
$25,560 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Banks?
The cost of living in 36005 Banks, AL is relatively low compared to other areas. There is no state income tax and the average cost of housing in the area is significantly lower than the national average. Additionally, utilities are generally very affordable, with electricity being particularly inexpensive. Residents can also save money on groceries as many food items are found at discounted prices at local farmers markets. Other costs such as transportation and entertainment are also reasonably priced due to the city's close proximity to larger cities, which provide better options for shopping and dining out. All these factors make 36005 Banks, AL an attractive place to live for those looking to save money.